BUSINESS

Capital market probe: Shareholders decry uncertainty, seek reassurance

Capital market probe: Shareholders decry uncertainty, seek reassurance

The uncomplimentary revelation of leadership failings at the agencies responsible for the management of the Nigerian capital market has created an air of uncertainty that may harm Nigeria in the long run. Investors in the capital market who spoke to The Post suggested that the ongoing probe was worrisome and that the problems thrown up […]

BA, Virgin may escape penalties over discriminatory fares

BA, Virgin may escape penalties over discriminatory fares

Foreign airlines operating in Nigeria may escape the penalties imposed by the Ministry of Aviation for discriminatory fares as pressure from the British government and some powerful Nigerians is forcing the Federal Government to have a rethink. The Ministry had earlier issued a deadline for both the British Airlines and Virgin Atlantic to cut the […]

22 Japanese investors arrive Nigeria

22 Japanese investors arrive Nigeria

Nigeria’s desire to attract Foreign Direct Investment (FDI) has been boosted with the arrival into the country of 22 Japanese companies, which are on a fact finding mission. According to a statement from the Nigerian Investment Promotion Commission (NIPC), and signed by its spokesperson, Mr.Joel Attah, the visit is a prelude to their eventual investing […]

Inflation hits 12.9 percent

Inflation hits 12.9 percent

Data from the National Bureau Of Statistics on Tuesday showed that the inflation rate has risen to 12.9 percent in the month of April. According Bureau, this is driven largely by non-food items. However, the food inflation, which is the largest component of the index, was slightly down to 11.2 percent, compared with 11.8 percent […]

CBN releases N10.7 bn for agric projects

CBN releases N10.7 bn for agric projects

The Central Bank of Nigeria (CBN) has released about N10.71 billion to six commercial banks for the Commercial Agricultural Scheme (CACS). The amount is the apex bank’s allocation for one quarter. The six banks are to lend the money under the CACS, which is an initiative of the CBN aimed at increasing activities within the […]

Re-modeling at 11 airports nears completion – Minister

Re-modeling at 11 airports nears completion – Minister

Nigeria will at the end of May commission some of the re-modeled facilities at eleven airports across the country. The country’s Minister of Aviation, Princess Stella Oduah, who was on an inspection tour of Abuja, Kano and Benin Airports made this known to newsmen over the weekend, adding that work at the airports was at […]

Bomb scare at MMA

Bomb scare at MMA

Confusion and palpable fear reigned at Nigeria’s main airport, the Murtala Muhammed International Airport as a suspicious travel bag at the E-Wing arrival terminal sent officials and travelers running scared. Airport security discovered the unattended bag and promptly called in the bomb disposal unit of the Nigerian Police. The Post understands that after the bomb […]

Inconsistent billing system threatens PHCN reform

Inconsistent billing system threatens PHCN reform

Inconsistent billing system and deep seated corruption are threatening the ongoing reform of th Power Holding Company of Nigeria (PHCN), The Post has found. The Post’s findings revealed that for unexplained reasons, many residences are being made to pay more than commercial establishments. It was gathered that, even though those customers have meters, the distribution […]

NTDC to attract $200 billion investment from ATM

NTDC to attract $200 billion investment from ATM

Nigerian Tourism Development Corporation (NTDC) said it has embarked on fresh marketing strategy that could attract an investment of about $200 billion. Speaking at the ongoing Arabian Travel Market (ATM) in Dubai, United Arab Emirates (UAE), Director General of NTDC, Otumba Olusegun Runsewe, said the major areas to be marketed include the hospitality, transportation, Eco […]

N21 bn fraud: Saraki to turn himself in

N21 bn fraud: Saraki to turn himself in

Former governor of Kwara State, Senator Bukola Saraki is expected to turn himself in Monday after he confirmed receipt of a report declaring him wanted by the Special Fraud Unit (SFU) of the Nigeria Police Force. The Police is seeking to interrogate Saraki over his alleged ownership of a company, Joy Petroleum Limited, that obtained […]